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President Barack Obama and GOP Nominee Mitt Romney on Franchising’s Top Priorities

Regulatory Environment

“While President Obama is fighting to move America forward and grow our economy from the middle out, Mitt Romney and Paul Ryan would take us back to the same failed policies that crashed our economy and punished the middle class; more budget-busting tax cuts for the wealthy and letting Wall Street write its own rules.”

Tax Reform

“Cut taxes by $3,600 for the average middle class family over his first term in office and cut taxes 18 times for small businesses to help them grow and create jobs.”

•   Seeks to extend the Bush-era tax cuts for family income up to $250,000 per year.

•   Has also proposed lowering the corporate tax to 28%.

Workforce Policy

President Obama’s Department of Labor has promulgated regulations to shorten the timeframe for holding a union election, create small bargaining units, or “micro-unions”, and eliminate a long-standing overtime exemption for companion care workers.

Health Care

The President’s signature health care legislation, the Patient Protection and Affordable Care Act, was signed into law in March 2010.  The law requires most individuals to purchase health insurance, and requires most businesses to provide affordable coverage to full-time employees.  On June 28, 2012, the U. S. Supreme Court upheld the Affordable Care Act under Congress’ power to levy and collect taxes.

Regulatory Environment

“… will review all Obama-era regulations and repeal those imposing an undue economic burden … Mitt will change the way Washington regulates by imposing a regulatory cap to refocus agencies on reducing and streamlining regulation instead of increasing it.  And … would require Congress to approve major regulations before they take effect.

Tax Reform

“Lower the corporate tax rate from 35% to an internationally-competitive 25%.”

•   Has expressed his intention to “make permanent, across-the-board 20 percent cut in marginal rates.”

Workforce Policy

“Protect worker rights by guaranteeing them secret ballot elections and the right to work without joining a union.  Mitt will overturn President Obama’s executive order requiring the federal government to use union labor on all major projects.”

Health Care

“Obamacare… give[s] the federal government control over enormous portions of the economy with ill-defined language requiring thousands of pages of regulation. Mitt will repeal… and replace [it] with sensible reforms.”

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